Big Three for GLP
GLP, a developer of logistics warehouses and distribution parks, announced today, 14 January 2021, that it is launching the construction of 300,000 sqm of warehouses across seven units and four sites in Bedfordshire, Northamptonshire and Milton Keynes in UK, following the grant of planning permission.
It is currently the largest programme of speculative logistics real estate development in the country. The programme is an answer to the significant demand in an increasingly supply-constrained British logistics real estate market.
E-commerce occupiers are in need of more storage space. The project follows GLP’s completion of 380,000 million sqm of speculative development at Magna Park South, Lutterworth in December 2020.
According to Savills, UK online sales in December 2020 were 51% higher year-on-year. As a result, warehouse take-up was 15.3 million sqm in 2020 – by far the strongest year on record. (sh)